. Appendix to the Journals of the Senate and Assembly of the ... session of the Legislature of the State of California. t Fund. New Construction Paid for Out of Current Revenues. The maintenance and repair bills of the harbor were paid out of theSan Francisco Harbor Improvement Fund, which is made up ofcurrent revenues, and in addition, out of the same fund, and not out ofthe bond money, the board expended for new and additional construc-tions the following: For belt line trackage on lots 1 and 2 $25,093 90 For electric light extensions 28,844 81 For miscellaneous smaller improvements 19,118 9
. Appendix to the Journals of the Senate and Assembly of the ... session of the Legislature of the State of California. t Fund. New Construction Paid for Out of Current Revenues. The maintenance and repair bills of the harbor were paid out of theSan Francisco Harbor Improvement Fund, which is made up ofcurrent revenues, and in addition, out of the same fund, and not out ofthe bond money, the board expended for new and additional construc-tions the following: For belt line trackage on lots 1 and 2 $25,093 90 For electric light extensions 28,844 81 For miscellaneous smaller improvements 19,118 94 Piers 21, 9, 11, 13, 44 were substantially rebuilt, thesupports having practically all gone to pieces. Thework done in this regard partook much more of thenature of new construction than repairs. The amountsexpended on these works w^ere also paid out of currentrevenues and were respectively as follows: Rebuilding Pier 21 43,305 81 Rebuilding Pier 9 56,771 87 Rebuilding Pier 11 47,748 31 Rebuilding Pier 13 41,953 95 Rebuilding Pier 44 26,629 96 Total - $289,467 55 20 REPORT OF BOARD OF STATE HARBOR REPORT OF BOARD OF STATE HARBOR COMMISSIONERS. 21 Repayment of Loan From the State. As stated in our last report, owing to the financial stringency of 1913and the competition with other public issues carrying a higher rate ofinterest, the State Treasurer found it impossible during that period tosell at par the harbor four per cent bonds of the nine million issue pro-vided by the Act of 1909, and accordingly the legislature under the Actof June 16, 1913, came to our rescue by loaning to the Harbor Boardnot to exceed $500,000, to go as a commission on sale of the bonds, theloan to be wholly repaid to the state by the Harbor Board out of harborrevenues within five years, in equal yearly installments. By the aid ofthis commission, the State Treasurer was enabled to dispose of bondsto the amount of $4,767,000. The commission thereon amounts to$476,700, which will have to
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